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direct tax - capital gain

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Shivanand Wagle asked 9 months ago

if capital gain has not been included in the original return and if one wants to file the revised return by including the capital gain, can he deposit the amount now (i.e. after 31-7-17) in capital gain account scheme to claim the deduction ? original return is filed before due date.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Pankaj answered 4 months ago

Capital Gain Scheme is not depend on filing of return. It should be deposited with in time speciied from the date of transfer. So you cannot doeposit in this scheme for exemption purpose. But you should disclose it in revised return to avoid litigations in future.

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